Baytex Energy - BTE Stock Forecast, Price & News

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta. The company's properties also include conventional oil and natural gas assets in Western Canada. As of December 31, 2021, it had proved developed producing reserves of 129 million barrels of oil equivalent (mmboe); proved reserves of 278 mmboe; and proved plus probable reserves of 451 mmboe. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.

Baytex Energy Stock Down 1.2 %

Baytex Energy stock traded down C$0.08 during midday trading on Monday, hitting C$6.47. The stock had a trading volume of 6,035,459 shares, compared to its average volume of 7,132,140. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 46.97. The stock has a market cap of C$3.62 billion and a P/E ratio of 4.39. Baytex Energy has a 12 month low of C$1.87 and a 12 month high of C$9.16. The business has a fifty day moving average price of C$6.63 and a 200 day moving average price of C$6.16.

Baytex Energy (TSE:BTE - Get Rating) (NYSE:BTE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported C$0.32 earnings per share for the quarter, beating the consensus estimate of C$0.28 by C$0.04. The firm had revenue of C$854.17 million during the quarter. Research analysts predict that Baytex Energy will post 1.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BTE. Scotiabank lifted their target price on Baytex Energy from C$6.75 to C$9.00 in a report on Wednesday, June 8th. Stifel Nicolaus lifted their target price on Baytex Energy from C$8.25 to C$9.00 in a report on Monday, July 4th. Royal Bank of Canada boosted their price objective on Baytex Energy from C$6.00 to C$7.00 and gave the stock a "sector perform" rating in a research note on Monday, May 2nd. Raymond James boosted their price objective on Baytex Energy from C$9.00 to C$9.50 and gave the stock an "outperform" rating in a research note on Tuesday, July 5th. Finally, National Bankshares reduced their price objective on Baytex Energy from C$10.50 to C$10.00 and set an "outperform" rating on the stock in a research note on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$8.18.

Insider Activity at Baytex Energy

In other news, Director Mark Bly acquired 12,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average cost of C$5.59 per share, with a total value of C$67,080.00. Following the completion of the acquisition, the director now directly owns 421,544 shares in the company, valued at C$2,356,430.96. In related news, Senior Officer Rodney Gray bought 20,000 shares of the stock in a transaction dated Thursday, June 23rd. The stock was bought at an average cost of C$5.69 per share, with a total value of C$113,700.00. Following the completion of the acquisition, the insider now owns 934,024 shares of the company's stock, valued at C$5,309,926.44. Also, Director Mark Bly bought 12,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were bought at an average cost of C$5.59 per share, with a total value of C$67,080.00. Following the completion of the acquisition, the director now directly owns 421,544 shares of the company's stock, valued at approximately C$2,356,430.96.